Financial accounting... Internal use company

%20upload%20(1).pdf Apex Ltd produced the following Trial Balance at 31 Dec 2019. DEBIT 000 CREDIT 000 250 200 800 425 12 % Debenture 5% Preference Share at RMI Ordinary Share at 50 cents each Reserves Land at valuation Premises at cost Provision for depreciation - Premises Plant and Machinery Provision for depreciation - Plant and Machinery Inventory 1 January 2019 Account receivables 495 350 20 220 30 410 875 Tutorial Questions on Company Accounts - (Internal Use) Cash in hand Account payables Bank Administrative expenses Selling and Distribution cost Dividends Debenture interest Sales and Purchases Carriage inward Carriage Outward Returns Outward 12 198 85 264 172 20 15 1745 2569 15 18 34 4611 4611 Additional Information: Closing stock at cost RM 194,000. Prepaid administrative expenses amount to RM 10,000 and selling and distribution cynenses outstanding PM 19000 h selling and Distribution cost Dividends Debenture interest Sales and Purchases Carriage inward Carriage Outward Returns Outward 264 172 20 15 1745 2569 15 18 34 4611 4611 Additional Information: a. Closing stock at cost RM 194,000. Prepaid administrative expenses amount to RM 10,000 and selling and distribution expenses outstanding RM 18,000 b. C. The Reserves account consist of: Share Premium RM 100.000 Revaluation reserves RM 135.000 The balance in the reserve account is for undistributed profit. d. Premises are to be depreciated at 4% p.a. using straight line method. Plant and Machinery is to be depreciated at 10 % p.a. on cost. e Corporation tax of RM 30,000 is to be provided for the year. f. The dividends account represents a half-years preference dividend and interim ordinary dividend. Directors proposed to pay preference dividend at year end Required: Prepare the Income Statements for the year to 31 December 2019 and the statement of financial position as at that date